Hello everyone,
Long story short, had 2 cards with credit one (one is mines and one is the wife's card). We underwent horrible financial hardship (we both lost jobs at around the same time). We let our credit card payments go so we could survive. All of this was at the beginning of 2016. By September all of our accounts went into collections. Midland bought a total of 4 of our accounts on the same day. The balances range from 900-1200. We both tried to get back on our feet and basically took any part time job or job that paid to keep us afloat. We don't make nearly enough as we did before. However, we were able to save a small sum of money. We want to settle some of our stuff before we get sued. We live in Texas by the way.
How likely is it that midland will accept 30% of the balance they are trying to collect? I'm not highly optimistic as our accounts are fairly fresh. (They sent us the first letter around early December)
Thank you for all advice.